The volatility inherent in the current cryptocurrency trading space makes for a wild ride when it comes to your emotions. Crypto trading can be a thrilling experience. It is filled with highs and lows. When you are assessing the market and taking in certain information before making trades, your emotions will inevitable become involved.
When the crypto market is bullish, traders are full of energy and excitement. You feel like you’re walking on clouds and seem to dance or play around everywhere you go. You can easily pick winning coins because the market as a whole is bullish. You feel empowered and confident while you check your crypto account over and over.
Most of us know what it feels like to see a coin we own jump quickly and then return to the previous position it was originally at the next morning. It’s exciting to assess coin strength and pick positions for the long term.
It’s important to experience the emotions related to the lows as well as the highs. This way you build a back bone in order to remain calm and confident during the bear markets. It can rattle your nerves to watch your portfolio drop 30% for example. Many people get stressed out during these times which is normal to some extent.
The highs are always accompanied by the lows. Keep your emotions in check and stay focused on long term growth. Fixate your mind on something positive. A little stress can be helpful as it can put a trader in survival mode while motivates you to learn from the experience and hone your skills.